An error in the ending inventory balance will cause an error in the calculation of cost of goods sold.
Answer the following statement true (T) or false (F)
True
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Indicate whether the statement is true or false
Which of the following is not a true statement regarding SFAS No. 109?
a. It maintained a comprehensive allocation orientation. b. It requires a matching orientation. c. It has an asset-liability viewpoint. d. It retained the mandatory nature of income tax allocation.
Which of the following situations would not constitute a ratification of a contract by a minor?
a. Prior to reaching majority, a minor expressly agrees to be bound by the terms of the contract. b. After reaching majority, the minor fails to disaffirm the contract within a reasonable time. c. After reaching majority, the minor expresses in writing an intention to be bound by the terms of the contract. d. After reaching majority, the minor expresses orally an intention to be bound by the terms of the contract.
The weights used in weighted average cost of capital must be ________
A) greater than 50% B) nonnegative C) less than zero D) zero